Forum Replies Created
i’m a professional in the mining industry. Personally, i wouldn’t buy a property in a mining town for all the tea in china. Way too cyclical. When the worm turns in the mining industry, its usually pretty quick.
Cabo Wabo
How bout these serious contenders?
Big Bucks Now Investments
Outa Strewth Groove and Associates
The Condo in Jamaica Pty
Shaweetmate Deals
This is ur wake up call pal i’m gonna make u rich Pty Ltd
Big Doe Diddlers R Us
Forty Foot Cheque Investments
and finally
U’d be mad not to invest with us Pty Ltd
Cabo Wabo
Go to Macquarie banks web site.
Down load the free property report called “the world squared” and read the section called “residential”. U will not be dissapointed.
Cabo Wabo
This is good fun. I’ll get back to u.
Stay tuned.[suave]
PS. Have u guys read Macquarie’s latest 06 property report called “The World Squared” (free on their web site)? If not, do me a favour & read it!!…. or more to the point, read the 3 chapters on residential (especially residential), China, and the USA….. I WANT TO DISCUSS those 3 chapters.
Cabo Wabo
4th property in just over 2 yrs. Paid 285K for it, thats 79K higher than previous highest. What can i say, i’m a cheap bastard. [strum]
Cabo Wabo
Foundation,
I am also someone who likes to pull things apart to see how they work. I am a keen fan of modelling housing scenario’s. I could quite happily blow a whole Saturday modelling how to take over the world. Its great fun.
Ur post when I read it on Friday quite interested me, and I said to myself, “on Monday I’ll have a play with that …a very interesting post indeedâ€.
Well todays Monday and I’ve had a play and I’ve gotta say I’ve a serious issue I’d like to bring up. I think what u have written comes unstuck because u have forgotten one very important factor.
What about the people who have just sold a house? … there seems to be no balance in ur argument.
U say there are 600,000 dwellings turned over each year, with the average mortgage being 215,000. Ur $129 billion housing debt growth number comes from 600000 x 215000. This number is actually the total value of new mortgages issued… not housing debt growth.
What about the people who have just sold a house? What do they do with the 245k they have just received for their property? (215K + 45K deposit – 15K selling costs)
If ur saying it takes 20yrs for a house to turn over… I assume the owners would have paid off most of the existing loan’s principle during those 20 yrs.
But lets assume they haven’t. Lets assume no principle has been paid in Australia for 20yrs (untrue). Lets also assume the seller owes the entire value of the house (again untrue due to 20years appreciation). When he/she sells, the money would go to the bank, and the bank would pay off its debt to whatever international institution provided the money to start with.
Assuming no principle paid off (ever) and no appreciation over the past 20 years, I’ve run a rough scenario of housing debt increase between now and 2016 at the following (ur assumptions):
Initial debt – 700bill
Interest rate – 7.2%
Turnover – 5%
Future appreciation – 7%I get a 18bill increase in housing debt in yr 1 and a total housing debt of approx 900bill by 2016.
In reality, it would be less than that, as the average person selling a house would have some equity in it, and that cash (equity) would stay in the country.
Am I on the wrong track? I look forward to thoughts on this…
Cabo Wabo
George Bush is an ignorant idiot… plain and simple.
But the sad fact is that he is like a large proportion of our population in that he has no clue about political history, or of the precedents that have been set in the past.
Our society is based on lessons learn’t from our mistakes in the past. It is fundamental that people understand these lessons.
The problem today is that too many people only care about their mobile phone or whats on “big brother” tonight. They don’t care about the past. Our society these days is very short sighted.
That is why people like George Bush can do what they do. Because we are ignorant and arrogant.
If people learn’t more about things like the Atlantic Charter, the dismise of colonialism, the politcal history of the 2nd world war, or simply watched SBS world news, we would not have let an idiot like George Bush destabilise the world.
We took our rule book, which had been built on a century of mistakes and war, and chucked it out the window….. literally.
I am so frustrated with all this these days…. does it show?
PEOPLE SHOULD READ BOOKS!!!!!!!!!!!!!!!!!!!!!!!
Cabo Wabo
Most excellent.
ThanksTerry
Cabo Wabo
further to my question: the trust has a corporate trustee.
Cheers people…
Cabo Wabo
Mum’s from Harvey, south of Perth, but has Irish/scottish heritage.
I was born in Barbados in the caribbean where my Dad’s side is from (sugar farmers), althought dad’s side was originally english. We came to Oz in 87… and now live in Perth.People of note in the family tree:
* John Forrest : of great emmence in early WA
* At one stage mum’s side owned the swan brewery, but a long time ago.
* Dad’s side used to own the Mount Gay Barbados Rum Distillery (oldest rum in the world).
* John Booth, the man who shot Abraham Lincoln is in the family tree also.and thats about where our claim to fame ends.
Maybe in 200yrs, someone will be saying, “yeah, the great Cabo Wabo, famed property magnate, head of the world bank and philanthipist was my ancestor”…… NOT.
Cabo Wabo
I’d definately refinance, then buy a 2nd hand car. I’d up the rent in 2 stages back to full market rent, and if the tenent moves out, so be it. You’ll find another one. Also, if he moves out, that will give u the opportunity to jazz it up a lil. Maybe that will mean higher rent again. No problem.[chill]
Cabo Wabo
I’ve set up a 2nd pty for similar reasons. Its worth it.
Cabo Wabo
Thanks guys,[cap]
i’ve had a chat with him, and straightened him out. [blink]
Cabo Wabo
Yup,
Definately came to that conclusion. Am looking at citibank at the moment..Cheers.
Cabo Wabo
Galaxy class starship. NCC-1701D
The Nebula class was old hat…. i much prefer the “D”
Cabo Wabo
I heard that if a neighbours tree is hanging over ur fence u are in ur rights to have the neighbour cut it back & that the council can/will enforce it if he says bugger off.
If that doesn’t work, hire a hit man to deal with the neighbour, and have the tree lopper guys take the bill out of his desceased estate…. too easy…
Cabo Wabo
Thanks guys. Lots of options.
Cabo Wabo
Thanks Terry,
They are offering the commercial loan…. is there any detriment in having a commercial loan as opposed to a residential loan?
Cabo Wabo
Don’t know mate, but very good question..
Cabo Wabo
Thanks Cata.
Cabo Wabo
